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April 24, 2013

FPA Outsources Pro Bono Work to Foundation for Financial Planning

The agreement will help FPA keep the focus on CFP practitioners, says CEO Lauren Schadle

The Financial Planning Association (FPA) and the Foundation for Financial Planning on Wednesday announced a partnership that will outsource the FPA’S pro bono outreach activities entirely to the foundation.

Previously, the pro bono activities had been jointly coordinated by the organizations for many years. Under the new arrangement, the Foundation for Financial Planning will assume the pro bono leadership role and facilitate day-to-day efforts within the FPA community. FPA’s national network of chapters will work with the foundation to reach individuals in need throughout the United States.

“One of the things I’ve taken on in the last six months is operational efficiencies,” said the Denver-based FPA’s new executive director and CEO, Lauren Schadle (left), in an interview. “Recognizing that we can’t be all things to all people, our focus needs to be on the CFP practitioner.”

Schadle, who replaced longstanding FPA CEO Marv Tuttle in October, said the board was committed to finding increased efficiencies within the FPA, which is the largest membership organization for certified financial planning professionals in the U.S.

The Foundation for Financial Planning, based in the Atlanta area, has served as the financial planning profession’s foundation since 1981, when it was known as the IAFP Foundation. It was created by the International Association of Financial Planners prior to its merger with the Institute of Certified Financial Planners in 2000 to form the FPA. The foundation is a 501(c)(3) nonprofit charitable organization.

To facilitate the new venture, the foundation has expanded its staff to oversee the pro bono activities and will be “more closely integrated with key FPA operational elements so that they can easily connect to chapters and members,” according to an FPA release.

The foundation staff plans to provide guidance and support to FPA chapter leaders and members for pro bono activities. It will also continue to utilize FPA’s vast library of consumer-oriented resources, training programs and educational presentations to serve those most in need. Overall, the organizations will work together on the transition and anticipate a full transference of FPA’s core pro bono functions to the Foundation to be complete by June 1, 2013.

“The Foundation for Financial Planning has extensive experience in supporting and facilitating a variety of pro bono initiatives and is fully committed to expanding and enhancing the FPA pro bono program,” said Foundation Chairwoman Elissa Buie in a statement. “Through the foundation’s grant support of the FPA pro bono initiative since 2001, we have created a unique relationship and are eager and prepared to assume the leadership role in guiding the pro bono efforts forward for this joint partnership and working with FPA chapters and members.”